TPG Still Hungry For Billabong

TPG Capital has re-tabled its non-binding, indicative proposal to acquire Billabong for 765.3 million Australian dollars (US$826.3 million) by way of Scheme of Arrangement, at an offer price of A$3/share.

The offer is still conditional and subject to both due diligence and finance, but it does not preclude the Nixon sale announced Friday.

It’s at a premium of just 14.5%, but Billabong is open to considering the proposal.